{"id":627071,"date":"2024-06-30T09:30:41","date_gmt":"2024-06-30T09:30:41","guid":{"rendered":"https:\/\/wncen.com\/?p=627071"},"modified":"2024-06-30T08:17:19","modified_gmt":"2024-06-30T08:17:19","slug":"14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price\/","title":{"rendered":"14,000 BTC Transferred To Exchanges In Four Days &#8211; Worrying Trend For Bitcoin Price?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Recent on-chain data shows that substantial amounts of Bitcoin have made their way to centralized exchanges in the last few days. How could this <a href=\"https:\/\/wncen.com\/news\/bitcoin\/analyst-john-bollinger-foresees-more-consolidation-for-bitcoin\/\" target=\"_blank\" rel=\"noopener \">impact the Bitcoin price<\/a>?<\/span><\/p>\n<h2><strong>Bitcoin Price To Face Further Selling Pressure?<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In a new <a href=\"https:\/\/x.com\/ali_charts\/status\/49781818\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a> on the X platform, prominent crypto analyst Ali Martinez revealed that Bitcoin investors have been transferring their assets to centralized exchanges in recent days. The relevant indicator here is CryptoQuant\u2019s Exchange Reserve metric, which tracks the total amount of a particular cryptocurrency held on all exchanges.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/shiba-inu-army-on-the-move-35-billion-shib-invade-shibarium\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium<\/a><\/div>\n<p><span style=\"font-weight: 400\">It is worth noting that the value of this metric rises when investors are making more deposits than withdrawals of a cryptocurrency (Bitcoin, in this scenario) into centralized exchanges. Meanwhile, when the metric\u2019s value falls, it means that holders are transferring their assets out of the trading platforms.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to CryotoQuant data, more than 14,000 BTC (valued at approximately $851.2 million) have been sent to crypto exchanges in the last four days. As shown in the chart below, the exchange reserve metric is at its highest level in nearly a month.<\/span><\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GROyMNHX0AIZKUa?format=jpg&amp;name=medium\" alt=\"Bitcoin price\" width=\"1200\" height=\"675\"><figcaption class=\"wp-caption-text\">A chart showing the Bitcoin price and exchange reserve | Source: <a href=\"https:\/\/x.com\/ali_charts\/status\/49781818\" target=\"_blank\" rel=\"noopener nofollow\">Ali_charts\/X<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Typically, an increase in the exchange reserve indicates high selling pressure, as investors often use centralized exchanges to sell assets. Consequently, the movement of huge amounts to trading platforms could exacerbate the <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-battling-bearish-headwinds-is-the-sell-off-over\/\" target=\"_blank\" rel=\"noopener \">downward pressure on the Bitcoin price<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the exodus of significant amounts to centralized exchanges could trigger price volatility for the premier cryptocurrency. This would imply an increased likelihood of big price movements in the future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, there has not been any impact on the Bitcoin price in the past day. As of this writing, the price of the premier cryptocurrency stands at around $60,700, reflecting a bare 0.3% increase in the last 24 hours.\u00a0<\/span><\/p>\n<h2><strong>Price Rebound Imminent For BTC: Santiment<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Fortunately, it is not all gloom for the Bitcoin price at the moment. Prominent on-chain analytics platform Santiment has <a href=\"https:\/\/x.com\/santimentfeed\/status\/18427353\" target=\"_blank\" rel=\"noopener nofollow\">offered<\/a> a positive outlook for the price of the market leader.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the blockchain firm, Bitcoin\u2019s recovery following dips in the past two weeks has been short-lived. Santiment believes that a price rebound is imminent for the premier cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-down-today\/\" target=\"_blank\" rel=\"noopener \">rationale behind this analysis<\/a> is based on two factors; the recent negative sentiment from the crowd and the low relative strength index (RSI). Santiment said in its post:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">But note the continued negative sentiment pouring in from the crowd, indicating their patience is wearing thin. This, along with a low RSI of just 36, are strong indications a bounce is close.<\/span><\/p><\/blockquote>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/blackrock-global-allocation-fund-reveals-major-bitcoin-etf-stake-with-43000-shares\/\" target=\"_blank\" rel=\"noopener \">BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares<\/a><\/div>\n<figure style=\"width: 1832px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/rJWKjAAF\/\" alt=\"Bitcoin price\" width=\"1832\" height=\"1314\"><figcaption class=\"wp-caption-text\">Bitcoin price breaks above the $61,000 level on the daily timeframe | Source: BTCUSDT chart on <a href=\"https:\/\/www.tradingview.com\/x\/rJWKjAAF\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\"><em>Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recent on-chain data shows that substantial amounts of Bitcoin have made their way to centralized exchanges in the last few days. How could this impact the Bitcoin price? Bitcoin Price To Face Further Selling Pressure? In a new post on the X platform, prominent crypto analyst Ali Martinez revealed that Bitcoin investors have been transferring their assets to centralized exchanges in recent days. The relevant indicator here is CryptoQuant\u2019s Exchange Reserve metric, which tracks the total amount of a particular cryptocurrency held on all exchanges. Related Reading: Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium It is worth noting that the value of this metric rises when investors are making more deposits than withdrawals of a cryptocurrency (Bitcoin, in this scenario) into centralized exchanges. Meanwhile, when the metric\u2019s value falls, it means that holders are transferring their assets out of the trading platforms. According to CryotoQuant data, more than 14,000 BTC (valued at approximately $851.2 million) have been sent to crypto exchanges in the last four days. As shown in the chart below, the exchange reserve metric is at its highest level in nearly a month. Typically, an increase in the exchange reserve indicates high selling pressure, as investors often use centralized exchanges to sell assets. Consequently, the movement of huge amounts to trading platforms could exacerbate the downward pressure on the Bitcoin price. Furthermore, the exodus of significant amounts to centralized exchanges could trigger price volatility for the premier cryptocurrency. This would imply an increased likelihood of big price movements in the future.\u00a0 However, there has not been any impact on the Bitcoin price in the past day. As of this writing, the price of the premier cryptocurrency stands at around $60,700, reflecting a bare 0.3% increase in the last 24 hours.\u00a0 Price Rebound Imminent For BTC: Santiment Fortunately, it is not all gloom for the Bitcoin price at the moment. Prominent on-chain analytics platform Santiment has offered a positive outlook for the price of the market leader. According to the blockchain firm, Bitcoin\u2019s recovery following dips in the past two weeks has been short-lived. Santiment believes that a price rebound is imminent for the premier cryptocurrency. The rationale behind this analysis is based on two factors; the recent negative sentiment from the crowd and the low relative strength index (RSI). Santiment said in its post: But note the continued negative sentiment pouring in from the crowd, indicating their patience is wearing thin. This, along with a low RSI of just 36, are strong indications a bounce is close. Related Reading: BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":558110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[87818,428,679,1122,78790,83531,57231],"class_list":["post-627071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-ali-martinez","tag-bitcoin","tag-bitcoin-price","tag-btc-price","tag-btcusdt","tag-cryptoquant","tag-santiment"],"acf":[],"yoast_head":"\n<title>14,000 BTC Transferred To Exchanges In Four Days - Worrying Trend For Bitcoin Price?<\/title>\n<meta name=\"description\" content=\"On-chain data shows that huge Bitcoin amounts have recently made their way to centralized exchanges. 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How could this impact the Bitcoin price?","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/bitcoin\/14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/bitcoin\/14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/bitcoin\/14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/iStock-1201823658.jpeg?fit=1254%2C836","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/iStock-1201823658.jpeg?fit=1254%2C836","width":1254,"height":836,"caption":"Antalya Turkey, 25 Januray 2020. Exchanging Bitcoin with United States Dollar Bill"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/bitcoin\/14000-btc-transferred-to-exchanges-in-four-days-worrying-trend-for-bitcoin-price\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"14,000 BTC Transferred To Exchanges In Four Days &#8211; Worrying Trend For Bitcoin Price?"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/f00d04323451aba53c6c7cca439248b8","name":"Opeyemi Sule","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c7504c9f8f2e0b8be7c07a8cf7ed4119?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7504c9f8f2e0b8be7c07a8cf7ed4119?s=96&d=mm&r=g","caption":"Opeyemi Sule"},"description":"Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. 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